LIVE Market Coverage: Thursday July 16 Yahoo Finance
Get the latest up-to-the-minute continuous stock market coverage and big interviews in the world of finance every Monday–Friday from 9 am to 5pm (ET).
#YahooFinance #Stocks #coronaviruscovid19
The lineup:
9am - 11am: The First Trade
11am - 1pm: On The Move
1pm - 3pm: The Ticker
3pm - 5pm: The Final Round
#Stockmarket #coronavirus #YahooFinance
Stocks fell Thursday, as investors digested a deluge of earnings results and new economic data on the state of the consumer and labor market as the pandemic continues.
[Click here to read what’s moving markets heading into Friday, July 17]
The ongoing economic impact of the coronavirus pandemic was captured in two key reports Thursday morning. The Labor Department’s weekly jobless claims revealed that another 1.3 million workers filed unemployment claims, in a print that was slightly worse than consensus economists had forecast, and reflected a decelerating pace of improvement in the labor market as coronavirus cases surge in some parts of the country. However, retail sales skyrocketed by 7.5% last month — well above market expectations of 5% and on the heels of a record, upwardly revised 18.2% jump seen in May.
"The retail picture is a reflection of the USA during Covid-19 – all over the place,” said Dr. Kerstin Braun, President of Stenn Group, a global trade finance provider.
“The situation varies by household, business, industry sector and state, and will not normalize until the virus is under control,” Braun said. “More than 70% of the country is pausing or reversing reopening plans and credit card data already shows a dip in spending so far in July.”
Continuing the run of Wall Street bank earnings, Bank of America (BAC) and Morgan Stanley (MS) reported Q2 earnings, but with different results. BofA saw the pandemic cut its profit in half, while Morgan posted a record quarter on booming fixed-income trading. Separately, the stay-at-home environment was a boost for Dominos Pizza (DPZ), as locked-down consumers sought out comfort food, sending U.S. sales on a tear.
At the close of the regular session Wednesday, the S&P 500, Dow and Russell 2000 each rose to their highest levels in five weeks, as optimism over a potential vaccine came alongside stronger than expected earnings results from Goldman Sachs (GS). Anthony Fauci, Director of the National Institute for Allergy and Infectious Diseases, told Reuters he was optimistic that the US would have an effective vaccine by the end of the year.
Nevertheless, companies and individuals across the country continue to contend with the pandemic in the meantime. Walmart (WMT), Kroger (KR) and Kohl’s (KSS) on Wednesday became some of the latest companies to require that customers wear masks while shopping, and the National Retail Federation called on all retailers to adopt nationwide policies of mask-wearing.
The new requirements came as the US continued to grapple with an ongoing rise in coronavirus cases, still especially in the South and West. California on Wednesday recorded its second-highest one-day rise at 11,126 new cases, while hospitalizations were at a record 6,786. Cases in Florida and Arizona rose at slower paces than each states’ respective average over the last seven days.
For more on this article please visit:
https://finance.yahoo.com/news/stock-market-news-live-july-16-2020-221811044.html
Видео LIVE Market Coverage: Thursday July 16 Yahoo Finance канала Yahoo Finance
#YahooFinance #Stocks #coronaviruscovid19
The lineup:
9am - 11am: The First Trade
11am - 1pm: On The Move
1pm - 3pm: The Ticker
3pm - 5pm: The Final Round
#Stockmarket #coronavirus #YahooFinance
Stocks fell Thursday, as investors digested a deluge of earnings results and new economic data on the state of the consumer and labor market as the pandemic continues.
[Click here to read what’s moving markets heading into Friday, July 17]
The ongoing economic impact of the coronavirus pandemic was captured in two key reports Thursday morning. The Labor Department’s weekly jobless claims revealed that another 1.3 million workers filed unemployment claims, in a print that was slightly worse than consensus economists had forecast, and reflected a decelerating pace of improvement in the labor market as coronavirus cases surge in some parts of the country. However, retail sales skyrocketed by 7.5% last month — well above market expectations of 5% and on the heels of a record, upwardly revised 18.2% jump seen in May.
"The retail picture is a reflection of the USA during Covid-19 – all over the place,” said Dr. Kerstin Braun, President of Stenn Group, a global trade finance provider.
“The situation varies by household, business, industry sector and state, and will not normalize until the virus is under control,” Braun said. “More than 70% of the country is pausing or reversing reopening plans and credit card data already shows a dip in spending so far in July.”
Continuing the run of Wall Street bank earnings, Bank of America (BAC) and Morgan Stanley (MS) reported Q2 earnings, but with different results. BofA saw the pandemic cut its profit in half, while Morgan posted a record quarter on booming fixed-income trading. Separately, the stay-at-home environment was a boost for Dominos Pizza (DPZ), as locked-down consumers sought out comfort food, sending U.S. sales on a tear.
At the close of the regular session Wednesday, the S&P 500, Dow and Russell 2000 each rose to their highest levels in five weeks, as optimism over a potential vaccine came alongside stronger than expected earnings results from Goldman Sachs (GS). Anthony Fauci, Director of the National Institute for Allergy and Infectious Diseases, told Reuters he was optimistic that the US would have an effective vaccine by the end of the year.
Nevertheless, companies and individuals across the country continue to contend with the pandemic in the meantime. Walmart (WMT), Kroger (KR) and Kohl’s (KSS) on Wednesday became some of the latest companies to require that customers wear masks while shopping, and the National Retail Federation called on all retailers to adopt nationwide policies of mask-wearing.
The new requirements came as the US continued to grapple with an ongoing rise in coronavirus cases, still especially in the South and West. California on Wednesday recorded its second-highest one-day rise at 11,126 new cases, while hospitalizations were at a record 6,786. Cases in Florida and Arizona rose at slower paces than each states’ respective average over the last seven days.
For more on this article please visit:
https://finance.yahoo.com/news/stock-market-news-live-july-16-2020-221811044.html
Видео LIVE Market Coverage: Thursday July 16 Yahoo Finance канала Yahoo Finance
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